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Mon Jan 28, 2013, 01:19 AM

 

Britain is experiencing 'worse slump than during Great Depression' (No growth in 2012)

Ministers today admitted Britain is facing "very, very grave difficulties" after figures showed the economy did not grow at all in 2012.

Both George Osborne, the Chancellor, and Danny Alexander, the Chief Secretary to the Treasury, said they do not underestimate the scale of the challenge but insisted the Goverment is on a "path of repairing our public finances".

Despite their optimism, City analysts warned that the economy is still "in crisis", more than four years after the financial crash of autumn 2008.

Economists from the Royal Bank of Scotland said the last four years have produced the worst economic performance in a non post-war period since records started being collected in the 1830s.

http://www.telegraph.co.uk/news/9826857/Britain-is-experiencing-worse-slump-than-during-Great-Depression.html

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Reply Britain is experiencing 'worse slump than during Great Depression' (No growth in 2012) (Original post)
HiPointDem Jan 2013 OP
aquart Jan 2013 #1
Turborama Jan 2013 #2
HiPointDem Jan 2013 #3
fasttense Jan 2013 #4

Response to HiPointDem (Original post)

Mon Jan 28, 2013, 02:03 AM

1. Austerity works great.

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Response to HiPointDem (Original post)

Mon Jan 28, 2013, 02:58 AM

2. You can actually see in the graph on the right the UK was starting to recover until 2010

...the same year the Tories took over:



Coincidence, or evidence that Osborne's 'austerity frenzy' experiment is a colossal fail?

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Response to Turborama (Reply #2)

Mon Jan 28, 2013, 03:01 AM

3. interesting.

 

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Response to HiPointDem (Original post)

Mon Jan 28, 2013, 08:56 AM

4. Wow, a triple dip directly into a Great Depression.

I'm sure our politicians will do it here in the US too. Just give them some time.

Austerity is what caused this and it is such a stupid idea. Here in the US we call Austerity balancing the budget or fighting the deficit. By any other name....

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